ARB and PYTH Lead Crypto Market Rebound; IMX Joins Bullish Momentum

ARB and PYTH Lead Crypto Market Rebound; IMX Joins Bullish Momentum

The larger cryptocurrency market rebound is gaining steam, with Bitcoin (BTC) trading above $108,000 and aiming for an all-time high. Arbitrum (ARB), Pyth Network (PYTH), and Immutable (IMX) have led the gains in the previous 24 hours. The cryptocurrencies are aiming for a long-term rebound following a critical resistance level breakdown.

Arbitrum (ARB) Price Action and Momentum

Arbitrum is down 1% at this time on Monday, after rising 18% the day before. ARB challenges the $0.35 supply zone, maintaining its 37% rebound from the previous week.

Technical Outlook:

• The Relative Strength Index (RSI) rises beyond the midway level to 58.
• Buying pressure continues to increase amid resistance challenges.

Pyth Network (PYTH) Maintains Reversal Trend

Pyth Network gained 30% last week after hitting a new year-to-date low of $0.080 on June 22. At the time of writing, PYTH is down nearly 1% after rising 10.85% on Sunday.

The cryptocurrency is struggling to hit the 50-day EMA of $0.117, resulting in its first bearish candle in the past five days. A clean breakthrough above the dynamic barrier might propel PYTH to its monthly high of $0.131.

Momentum Indicators:

• RSI reversed from oversold levels to 51.
• Strong buying pressure continues in the short term.

Immutable (IMX) Rejection at Key Resistance

Immutable fell by 1% at press time on Monday, retracing from the 50-day EMA of $0.50. The 30% rebound last week tests a long-standing resistance trendline built by peaks on May 11, May 23, and June 11.

A decisive daily closing above the trendline and the 50-day EMA might propel IMX to its monthly high of $0.58.

Technical Signals:

• MACD line crosses above its signal line, signaling a potential buy.
• New green histogram bars indicate that a bullish trend is in progress.
• RSI crosses above 50, indicating weakening bearish pressure.

Conclusion

ARB, PYTH, and IMX are riding the broader market momentum as they push toward new highs. While minor pullbacks are visible, the overall trend suggests growing investor confidence. Technical indicators for all three tokens show improving sentiment, and traders are watching key resistance levels to confirm long-term reversals.

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